Norwegian Cruise Line Holdings (NCLH) Q2 FY2026 earnings: revenue $2.6 billion, up 4.9% on the year
Norwegian Cruise Line Holdings Ltd. (NCLH) reported revenue of $2.6 billion for Q2 FY2026, the quarter ended 30 June 2026, up 4.9% on the same quarter a year earlier. Net income was $223 million, up 642.0% on the year, and diluted earnings per share $0.48. The figures are the company's own, from the 10-Q it filed with the SEC on 3 August 2026.
Revenue
$2.6 billion
+4.9% on the year · +13.3% on the quarter
Q3 FY2024Q2 FY2026
Operating margin
13.8%
16.8% a year earlier
Q3 FY2024Q2 FY2026
Net income
$223 million
+642.0% on the year · +112.6% on the quarter
Q3 FY2024Q2 FY2026
Diluted EPS
$0.48
+585.7% on the year · +108.7% on the quarter
Q3 FY2024Q2 FY2026
this quarterthe same quarter a year earlierHover a bar for its figure.
Adjusted EBITDA above guidance: Adjusted EBITDA was $666 million, against guidance of $632 million. Adjusted EPS was $0.48, against guidance of $0.38. Total revenue rose 4.9% to $2.6 billion on more Capacity Days.
Full-year guidance lowered: Full-year Adjusted EPS is now about $1.50, against $1.45 to $1.79 in May. Adjusted EBITDA is about $2.5 billion, against $2.48 billion to $2.64 billion previously.
Net Yield fell less than guided: Net Yield fell about 2.1% as reported and 2.6% at constant currency, against guidance of a 3.6% decline. Gross margin per Capacity Day fell 11.6% as reported.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
Q2 FY2026
Q1 FY2026
Q2 FY2025
On the quarter
On the year
Last 8 quarters
Operating cash flow
603
811
715
-25.7%
-15.7%
Capital expenditure
458
1,437
334
-68.1%
+37.2%
Free cash flow
145
-625
381
-62.0%
Free cash flow margin
5.5%
-26.8%
15.1%
Cash from investing
-459
-1,440
-336
Cash from financing
-111
604
-379
Depreciation and amortisation
271
281
244
-3.6%
+11.3%
Share-based compensation
22.7
23.4
25.9
-2.7%
-12.2%
Diluted shares, weighted
464m
466m
448m
-0.5%
+3.5%
Shares outstanding at period end
459m
459m
447m
+0.0%
+2.8%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q2 FY2026
Q1 FY2026
Q2 FY2025
On the quarter
On the year
Last 8 quarters
Shareholders' equity
2,573
2,431
1,570
+5.8%
+63.9%
Debt
15,035
15,155
13,763
-0.8%
+9.2%
Operating lease liabilities
908
894
798
+1.6%
+13.9%
Other liabilities
5,496
5,314
5,465
+3.4%
+0.6%
Total liabilities and equity
24,012
23,795
21,596
+0.9%
+11.2%
Fixed assets
20,438
20,189
18,248
+1.2%
+12.0%
Goodwill
136
136
136
0.0%
0.0%
Intangible assets
501
501
501
0.0%
0.0%
Cash and equivalents
218
185
184
+17.9%
+18.5%
Receivables
277
277
266
-0.1%
+4.2%
Inventory
161
163
161
-0.9%
+0.5%
Other assets
2,282
2,345
2,102
-2.7%
+8.6%
Total assets
24,012
23,795
21,596
+0.9%
+11.2%
Questions
What was Norwegian Cruise Line Holdings' revenue in Q2 FY2026?
Norwegian Cruise Line Holdings (NCLH) reported revenue of $2.6 billion for Q2 FY2026, the quarter ended 30 June 2026, up 4.9% on the same quarter a year earlier.
How much did Norwegian Cruise Line Holdings earn in Q2 FY2026?
Net income for Q2 FY2026 was $223 million, up 642.0% on the year, and diluted earnings per share $0.48.
When did Norwegian Cruise Line Holdings report Q2 FY2026 results?
Norwegian Cruise Line Holdings filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 3 August 2026.
Each quarter as filed, linked to its filing. Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A blank figure marked on a quarter is one the filings do not give on their own: the quarters as filed do not add to the year the company filed, or the year and its quarters stand on different share counts. Each quarter's page says which. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-Q for the period ended 30 June 2026, filed 3 August 2026: the filing.